Wellington beats target on latest fund

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Pan-European venture capital firm Wellington Partners has closed its latest fund “Wellington Partners IV Technology” at EUR265 million in just over six months. It had a target of EUR250 million, so it’s done well in what is supposed to be a bear market right now. With the new fund Wellington plans to invest in approximately 25 technology companies throughout Europe in the fields of digital media and online services, software and electronics. The new fund’s initial investments so far include French-based travel service provider TravelHorizon, German-based solar cell specialist Heliatek and Swiss-founded chip developer Innovative Silicon.

Wellington Partners has already opened a London office under the management of general partners Eric Archambeau and Frank Frank Böhnke. It has for a long time had a home base in Munich and another office in Zurich.